Louisiana-based Chouest Group has announced the acquisition of marine and offshore services provider Horizon Maritime, headquartered in St. John’s, Newfoundland and Labrador. It is acquiring the Canadian company from CFFI and its lender HPS. Transaction details were not disclosed.
Chouest Group said the deal represented “a significant expansion of Horizon Maritime’s capabilities and increase in Chouest Group’s global presence, with coverage across the Canadian marine sector” while creating “new opportunities for Horizon to scale operations across the West and East Coasts of Canada and the Canadian Arctic.”
“Combining the strengths of Horizon Maritime and Chouest Group enhances Horizon Maritime’s capabilities, building on the strength of Horizon Maritime’s activity on Canada’s three coastlines and Chouest Group’s full group offering, including marine transportation, subsea and terminal support services, specialised engineering and advanced technology solutions.”
Chouest Executive Vice President Dino Chouest said, “We are excited to welcome Horizon Maritime to the Chouest Group. We see immense value in Horizon’s team, leadership and operational excellence. We look forward to working closely with Horizon’s clients, building on their established reputation and growing the business by delivering the full range of services and capabilities offered across the entire Chouest Group.
“Combining Chouest’s global fleet expertise and technology with Horizon’s local footprint across Canada’s vast coastlines opens up incredible growth potential across Canada’s East Coast, West Coast and Arctic regions.”
Horizon Maritime will continue to operate with its existing management team and leadership structure. Steve Widmeyer continues as CEO and he and Horizon Maritime co-founder Sean Leet will join the board of directors.
(Photo of a Horizon vessel)